Acquisitions20 Mar 2026, 10:01 pm
NCLT Approves Amalgamation of Citizen Solar Private with Citizen Infoline Limited
AI Summary
Citizen Infoline Ltd. has announced that the Hon'ble NCLT, Ahmedabad Bench, has approved and sanctioned the scheme of amalgamation of Citizen Infoline Limited (Transferor Company) with Citizen Solar Private Limited (Transferor Company) under Sections 230 to 232 of the Companies Act, 2013. The appointed date is 01 April 2023 and the effective date will be the date of filing the certified copy of the Order with the Registrar of Companies (RoC). The scheme of amalgamation includes the transfer of all assets, liabilities, rights, and obligations of Citizen Infoline Ltd. to Citizen Solar Private Limited. The Transferor Company will stand dissolved without winding up.
Key Highlights
- NCLT approves amalgamation of Citizen Solar Private with Citizen Infoline Limited
- Transfer of all assets, liabilities, rights, and obligations from Citizen Infoline Ltd. to Citizen Solar Private Limited
- Transferor Company will stand dissolved without winding up
- Company has complied with observations issued by Stock Exchange(s) and applicable provisions of SEBI Circulars
- Company shall file certified copy of the Order with ROC within prescribed timeline and undertake necessary corporate actions